Thanks Guys for your feedback! Heading up there this weekend to have a look at a few properties but also to get a feel for the area. Carlito

Hi Mike,Thank you for sending thoses reports! Really helped me out in the endCarlito

Thanks NHG,I'll have a look at the website for some info.Carlito

Thanks for the Reports Mike,They are a great help and very much appreciatedCarlo

Thanks Terry!!

Hi guys!Now I getting a better understanding!Thanks guys for your time as always!CarlitoPS Terry what part of the deed did you have thoses terms- under what heading?

Hi Terry,Thanks for your response. How is it dealt though when withdrawing funds from the trust when you have gifted the money to it instead or loaning it?Carlito

Thanks Terry for everythingUntil next timeTake careCarlito

Ok so it's not returnable but a loan is,1. The trust should pay its own loans. If it hasn't got enough cash to do so it could borrow from you, or you could gift. Don't forget you are not the trust and the trust is not you. so you shouldn't be paying from personal to trust etc as this would look like there is not trust in existance.Like you have…[Read more]

Hi Terry,Thanks for your advice, you've made it much more clear now.Can I ask you what the difference is between lending the money to the trust and gifting the money to it? Like you said you don't have to charge interest on a gift but is that all? I guess you can still lend the money to the trust –  just make it a interest free loan.Carlito

Hi Terry,So if Im getting charged interest then I should charge the trust the same amount back but If I'm not getting charged interest due to have  the cash then the trust shouldn't either? do you agree?My aim is to buy property through the trust, so let's say I had the 20% which I lend to the trust and the 80% the trust borrows under the trust na…[Read more]

Hi Terry,If I can charge any interest rate then what's the benchmark rate mean? When does this apply? Is it only when lending money from company to another company? bit confused.In regards to claiming the interest, if the trust makes a profit and get distributed to the beneficiaries lets say my wife and I which then gets added to our…[Read more]

Hi Terry,I was hoping that you would respond – thanks!So Terry your saying that I should charge the trust interest – but at the same rate which I'm paying so it cancels each other out?If the money I've given the trust wasn't borrowed then would you still have the trust pay interest back to you? This will then become income to me and the trust…[Read more]

Richard,Can I ask you how would you restruture the deal/deals going forward as per your comments previously about restructuring my deal and starting a fresh?Thanks againCarlitoYou have a free Residex Property Report, can I email you to receive a copy?

Ok Terry I'll look into itThanks once again.Carlito

Thanks YI for your comments!

Thanks Terryw thats makes sence and gives me better understanding.I'll have to buy you a drink or two!!!Can I ask you should I set up an family trust before I buy my next IP? I'm not sure if do I or don't need it.What do you recommend or is this more of a tax issue?Carlito

Qlds007 wrote:
From what you have written you will use up your equity fairly quickly so if you intend to keep on going I would look at restructuring the deal and starting a fresh.Course may not be possible depending on how you are holding the Com property but it would certainly be cleaner for youRichard,Can i ask you how would you restruture the…[Read more]

Thanks Terryw for your response.Can I ask why would you put your rent into an offset account instead of putting it directly onto the IP loan? Lets say the IP loan had redraw facility. Any reason for this?Thanks Carlito

Can I stick to this method and keep buying IP's without hitting a brick wall in the future? The LOC I'll obtain from my current bank but with the 80% new loan I will source from another lender.Is this ok? Or should I stick to one lender? Should I have an offset account and to which one? (LOC or New Loan). Lastly, should the LOC have the ability to…[Read more]